This development comes a few days after India backed the island nation's efforts to secure a loan from the global lender, as the country seeks assurances that debt will be restructured as per the IMF programme.
The Chinese Embassy in Sri Lanka slammed the US recently after an American diplomat called China a 'spoiler' to Sri Lanka's negotiations with the International Monetary Fund (IMF) in a recent interview.
Nepal Prime Minister Pushpa Kamal Dahal on Sunday inaugurated the country's third international airport, built in the backdrop of the Annapurna Mountain Range with Chinese loans and donations.
Southeast Asian countries have resiliently withheld China's attempts to economically breach their sovereignty and have harnessed the power of China's financial might to their own advantage, reported The Singapore Post.
Despite being at the centre stage of world politics, South Asia is the least interconnected. Various factors undermine any political or non-political dialogue and cooperation between the countries that share borders in this part of the world, according to the South Asia Democratic Forum (SAD
In order to switch to organic fertilisers, Sri Lanka yet again relied on a Chinese company, only to get deceived in the end as the organic fertilizer supplied could not pass the two rounds of the National Plant Quarantine Services (NPQS) test due to high contamination.
The Sri Lankan newspaper said if the country missed the December IMF deadline, it would have to wait for March 2023 to secure a USD 2.9 billion loan from the IMF in eight equal tranches.
The USD 4.7 billion rail project known as the Standard Gauge Railway starts from Kenya's coastal region, began five years ago and has become the focus of multiple criminal investigations, weighing down the country's economy with debt.
Pakistan has a large amount of debt, high inflation, a spike in unemployment and a lot of other macroeconomic problems which clearly show the multiple challenges faced by the country.
Oslo [Norway], October 19 (ANI): Nordic countries are increasingly suspicious of China over the human rights violations of Uyghurs in its Xinjiang region. It is running out of favour in the Nordic region.
Vientiane [Laos], October 13 (ANI): Despite Vietnam's efforts to improve its relationship with Laos, the latter is moving towards China, as the nation is trying to gain benefits from Beijing's economy and Belt and Road Initiative (BRI) infrastructure.